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Latest publication: Prices of dwellings in housing companies 2021, February

Published: 28 January 2021

Price development of Helsinki, Tampere and Turku continued to differentiate from other large towns at the end of year

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose by 4.7 per cent in Greater Helsinki in December 2020 compared with the previous year and remained unchanged in the rest of the country. Old dwellings in housing companies sold well in December and over one third more dwellings were sold through real estate agents than one year ago.

Development of prices of old dwellings in housing companies by month, index 2015=100

Development of prices of old dwellings in housing companies by month, index 2015=100

Prices of old dwellings in housing companies fell most in Kouvola, Mikkeli and Lahti last year

According to Statistics Finland's preliminary data, prices of old dwellings in housing companies rose among large towns in Tampere, Helsinki, Espoo and Turku in the last quarter of 2020 compared to the previous year. Prices fell slightly in Vantaa and Oulu.

Compared with 2015, prices have risen among large towns clearly more in Helsinki, Turku and Tampere than in other towns. Towards the end of 2020, the differentiation of prices continued. However, there are large differences in price development within towns and by type of dwelling: for example, in the centre of Helsinki prices have gone up by as much as 26 per cent in five years, while further away from the centre prices have risen by around ninet per cent.

The average price per square metre of a one-bedroom dwelling in an old block of flats was EUR 7,783 in the centre of Helsinki, EUR 3,689 in the centre of Tampere and EUR 3,589 in the centre of Turku in the last quarter.

Development of prices of old dwellings in housing companies quarterly in big cities, index 2015=100

Development of prices of old dwellings in housing companies quarterly in big cities, index 2015=100

According to preliminary data, prices of old dwellings in housing companies went up by 1.4 per cent in the whole of last year in comparison to 2019. Prices went up by 3.5 per cent in Greater Helsinki and fell by 0.7 per cent in the rest of Finland.

Compared to 2019, prices rose most in Porvoo, Tampere and Helsinki last year. Prices fell most in Kouvola, Mikkeli and Lahti.

Examined by region, prices rose in Uusimaa, Pirkanmaa, Southwest Finland, Ostrobothnia and North Savo compared to the year before. Prices fell most in South Savo, Päijät-Häme and North Karelia.

Development of prices of old dwellings in housing companies by regions, quarterly, index 2015=100

Development of prices of old dwellings in housing companies by regions, quarterly, index 2015=100

Last year, the number of old dwellings in housing companies sold through real estate agents was unchanged from 2019. In Helsinki, the sales volume of old dwellings in housing companies was on level with 2019. Approximately two per cent more dwellings were sold in Tampere and over 7 per cent fewer in Turku than in the previous year. According to the National Land Survey's real estate purchase price register, by 5 per cent more old single-family houses were sold than 2019.

Prices of old dwellings in housing companies, whole year 2020 1)

Area Price, EUR/m² Index 2015=100 Yearly change, %
Whole country 2,104 104.6 1.4
Greater Helsinki 3,864 113.7 3.5
Rest of the country (whole country- Greater Helsinki) 1,598 96.5 -0.7
Helsinki 4,493 118.9 4.6
Helsinki 1 7,682 125.8 5.2
Helsinki 2 5,944 124.0 6.0
Helsinki 3 3,863 113.4 3.7
Helsinki 4 2,964 108.8 2.4
Espoo-Kauniainen 3,558 106.5 2.1
Vantaa 2,743 103.3 0.1
Satellite municipalities 2) 2,090 96.4 0.1
Tampere 2,592 112.1 3.7
Tampere 1 3,598 122.0 5.5
Tampere 2 2,562 106.3 3.0
Tampere 3 2,044 105.0 2.1
Turku 2,219 115.6 2,5
Turku 1 3,283 122.0 1.4
Turku 2 2,445 113.8 5.6
Turku 3 1,628 109.0 2.8
Lahti 1,579 90.8 -4.9
Kuopio 1,795 91.6 2.3
Jyväskylä 1,744 92.9 -3.4
Oulu 1,793 100.6 -0.3
Mikkelii 1,575 86.9 -5.4
Kouvola 1,036 84.5 -6.4
1) Preliminary data
2) Satellite municipalities = Hyvinkää, Järvenpää, Kerava, Kirkkonummi, Nurmijärvi, Riihimäki, Sipoo, Tuusula and Vihti

Prices of new dwellings in housing companies rose in the last quarter

Compared to the corresponding period of the year before, prices of new dwellings in housing companies rose by 4.4 per cent in Greater Helsinki and by 3.9 per cent in the rest of Finland. Compared with the previous year, prices of new dwellings increased most in Vantaa and Tampere.

Throughout last year, prices of new dwellings rose by an average of 3.6 per cent from 2019. Compared to 2015, prices of new dwellings have risen by 15 per cent, on average.

Development of prices of new dwellings in housing companies quarterly, index 2015=100

Development of prices of new dwellings in housing companies quarterly, index 2015=100

The statistics on the prices of old dwellings in housing companies are based on the Tax Administration's data on dwellings (data on ownership of dwellings in housing companies). The numbers published from data on dwellings should not be used to assess the activeness of transactions in the latest periods.

The numbers of old dwellings in housing companies sold through real estate agents are based on the data from the price monitoring service of the Central Federation of Finnish Real Estate Agencies.

The data on new dwellings in housing companies are based on information on the transaction prices reported by the largest building contractors and real estate agents.    

When the monthly statistics on prices of dwellings in housing companies are published, they cover approximately 70 per cent of all transactions made in the latest statistical month. The monthly data become revised during the following months so that the final data for the year are published in the release concerning the first quarter of the following year. Further information about data revisions can be found in separate tables

Data on prices of dwellings in housing companies in different areas and by house type are available at stat.fi/til/ashi/tau_en.html. The tables also contain data on the prices per square metre at the municipal and postal code levels and on the numbers of transactions. If only a few transactions are known in the area, a couple of deviating cases may significantly affect the average price for an area and the price index.


Source: Prices of dwellings in housing companies, Statistics Finland

Inquiries: Petri Kettunen 029 551 3558, Elina Vuorio 029 551 3385, asuminen.hinnat@stat.fi

Head of Department in charge: Hannele Orjala

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Tables

Tables in databases

Appendix tables

Figures
Quality descriptions
Revisions in these statistics

Updated 28.1.2021

Referencing instructions:

Official Statistics of Finland (OSF): Prices of dwellings in housing companies [e-publication].
ISSN=2323-8801. December 2020. Helsinki: Statistics Finland [referred: 19.4.2021].
Access method: http://www.stat.fi/til/ashi/2020/12/ashi_2020_12_2021-01-28_tie_001_en.html